Not always the way it works...I wouldn't use the word "investors" (in a penny stock?) but those who find the company sliding down often get caught holding too long, it's hard to put a proper stop loss in a penny stock.
So we become Bagholders.
Other options are to hold on for good or bad, get all out and move to the next one, average down or sell part of you holdings in thirds or halves...
At this point the bagholders are typically those who held on because they fell in love with the stock and keep on convincing themselves and anyone else who will listen that it's a great longterm investment.
So that's why I'm more interested in Todos as it is now rather that what it could be.
There are thousands of Companies languishing with half developed products that have run out of money in a dead sector.
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